"Season" - Sarasota residents have a love/hate relationship with this time of year. Officially November through May, the real brunt of season is New Year's through Easter.
What is "season", exactly? Sarasota is a town with a growing residential population, but given our gulfside location, fantastic beaches and year round golf - we also have a huge popualtion of "snowbirds" and part-time residents. Add to those numbers the influx of tourists and vacationers, and the Sarasota population swells to twice its normal size.
While it can get a bit more crowded, season is a boon to local businesses, who often rely on seasonal visitors to sustain their business for the rest of the year.
With experts coming to a consensus that the overall market is heading for recovery, we have our own indicators. Sarasota's sales numbers are up, and our inventory is decreasing. Prospective buyers are reporting that their favorite "Watch properties" are being sold, and we are beginning to see multiple offer situations again on well priced property. US News and World Report says we are the 2nd most undervalued market in the country. Sales are expected to tick up as the first time home buyer credit program expires in November, further depleting inventory.
How does this tie to season? In Sarasota real estate, season has traditionally brought an upswing in prices as sellers anticiapte the influx of prospective buyers. While in recent years sellers weren't quite so optimistic, this year we are already seeing increases. With all the positive news, and homes selling better than they have in years, there is a real possibility that the months prior to season are a closing window to the best deals.
Besides, if you own property during season, you can rent it out ! We are, after all, a seasonal town. And traffic aside, for the most part, we love it.
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